Myanmar not setting up trading zone at India border

Nay Pyi Taw Aug 3 (IANS) The Myanmar government will not set up a trading zone on its border with India due to insufficient basic requirements and poor potential trading a top commerce official told the House of Representatives here.

When asked by parliamentarians on Wednesday if there was a plan for the move Deputy Commerce Minister U Aung Htoo said that the Tamu trading point has been opened since 1995 but the trading value has been only $45 million accounting for only 0.6 per cent of the total trade volume of all border trading points reports Xinhua news agency.

For the purpose of promoting trade between the two countries a series of joint committee meetings related to bilateral trade border trade and border-market were held.

Top officials from both sides also had extensive discussions on opening a trade zone in Htantalan in Myanmar s Chin State and a new trade zone in Pan Khwar in India s Mizoram State.

According to official statistics Myanmar-India bilateral trade amounted to $1.743 billion in the last fiscal year 2016-17.

--IANS
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